Skip to content
Homepage
  • Market
    • Illinois
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Kentucky
    • Michigan
    • Midwest
    • Minnesota
    • Missouri
    • N Dakota
    • National
    • Nebraska
    • Ohio
    • S Dakota
    • Tennessee
    • Texas
    • Wisconsin
  • Events
  • Sector
    • CRE
    • Finance
    • Healthcare
    • Hospitality
    • Industrial
    • Legal
    • Multifamily
    • Net Lease
    • Office
    • Retail
    • section
    • Seniors Housing
    • Student Housing
  • Real Estate Awards
  • Subscribe
  • Publications
IllinoisMultifamily

West Ridge multifamily property sells over list price

April 7, 2022
Share on Facebook Share on Twitter Share on LinkedIn Share via email

Essex Realty Group, Inc. recently facilitated the sale of 2453-2457 W. Fargo Avenue, a corner 13-unit multifamily property located in Chicago’s West Ridge neighborhood. 

The seller, a local investor, hired Essex directors Abe Eilian and Matt Feo to exclusively market the property for sale. Within in a three-week timeframe, Essex led an extensive marketing campaign resulting in 22 property tours and multiple offers. The property ultimately sold $30,000 over the original list price for $1,675,000. Essex Principal Steve Livaditis and Director Jacob Goldstein represented the buyer, a local investor, in this transaction. 

The property is located on the southeast corner of Fargo Avenue and Campbell Avenue, just one block west of Western Avenue. This boiler building is primarily comprised of one-bedroom units. Four of the 13 apartment units have been renovated in recent years and a value-add opportunity exists for a new owner to continue to renovate the remaining apartments. The property also has a rear courtyard with a large common lawn, on-site washer/dryers in the basement, and six garage parking spaces. 

The property is situated in a uniquely desirable pocket in West Ridge surrounded by single-family homes and relatively low apartment density. With many local restaurants, bars, and shopping options and close proximity to several schools, parks, and public transportation, the convenient location of this property has contributed to its historically long-term and loyal tenancy.

Tags
ChicagoEssex Realty Group
" "

Subscribe

Subscribe to our email list to read all news first.

Subscribe
Related Articles
IllinoisMultifamily

Matthews™ closes 65-unit multifamily property in Chicago’s South Shore

March 24, 2023
TexasCRE

Monument Realty welcomes new senior associate in Frisco

March 24, 2023
OhioMultifamily

SVP with Cleveland’s NRP Group named chair of affordable housing group

March 24, 2023
MissouriCRE

St. Louis’ S.M. Wilson & Co. promotes worker to project manager

March 24, 2023

Subscribe

Subscribe to our email list to read all news first.

Subscribe
REJournals logo

Market

  • Illinois
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Michigan
  • Midwest
  • Minnesota
  • Missouri
  • N Dakota
  • National
  • Nebraska
  • Ohio
  • S Dakota
  • Tennessee
  • Texas
  • Wisconsin

Sector

  • CRE
  • Finance
  • Healthcare
  • Hospitality
  • Industrial
  • Legal
  • Multifamily
  • Net Lease
  • Office
  • Retail
  • section
  • Seniors Housing
  • Student Housing

Subscribe

Subscribe to our email list to read all news first.

Subscribe
  • Contact Us
  • Events
  • Office Locations
  • Advertise
© 2023 REjournals.com